Treasurer of the State of North Carolina Sells 4,610 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Treasurer of the State of North Carolina lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,263 shares of the company’s stock after selling 4,610 shares during the period. Treasurer of the State of North Carolina’s holdings in Kraft Heinz were worth $15,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Kraft Heinz by 0.6% during the third quarter. Vanguard Group Inc. now owns 70,215,597 shares of the company’s stock valued at $2,362,053,000 after acquiring an additional 417,115 shares in the last quarter. Invesco Ltd. raised its position in Kraft Heinz by 10.7% during the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock valued at $827,581,000 after purchasing an additional 2,369,080 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Kraft Heinz by 7.2% in the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after buying an additional 850,326 shares during the period. Northern Trust Corp grew its position in shares of Kraft Heinz by 3.7% during the 3rd quarter. Northern Trust Corp now owns 9,120,015 shares of the company’s stock worth $306,797,000 after buying an additional 324,450 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Kraft Heinz by 1.2% during the third quarter. Legal & General Group Plc now owns 6,970,103 shares of the company’s stock valued at $234,474,000 after buying an additional 85,295 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 0.0 %

Kraft Heinz stock opened at $34.65 on Friday. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market cap of $42.08 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The stock has a 50-day moving average of $36.62 and a two-hundred day moving average of $36.26.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period last year, the business earned $0.68 EPS. Kraft Heinz’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.62%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America boosted their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup assumed coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Company dropped their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Moderate Buy” and an average price target of $40.08.

View Our Latest Research Report on Kraft Heinz

About Kraft Heinz

(Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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